Cleveland Clinic's operating income tumbles 32% in Q3

Cleveland Clinic ended the third quarter of 2017 with operating income of $39.7 million, down 32 percent from the same period of the year prior, according to recently released bondholder documents.

The system recorded revenues of $2.05 billion in the third quarter of this year, up from revenues of $2.01 billion in the same period of the year prior. The revenue growth was partially attributable to higher patient volumes. Compared to the third quarter of 2016, acute admissions were up 4 percent in the third quarter of this year.

After factoring in a year-over-year drop in nonoperating gains, Cleveland Clinic ended the third quarter of this year with net income of $227.6 million, compared to $287.6 million in the same period of the year prior.